Advanced use of identity-centric security reaps business benefits and decrease in data breaches.
Eighty-seven percent of firms in Asia Pacific and Japan (APJ) agree that the role of security is to enable them to enter new markets and deliver services in new ways, according to a global study from CA Technologies.
The study, 'The Security Imperative: Driving Business Growth in the App Economy,' polled 1,779 senior business and information technology (IT) executives from APJ region, of which more than 100 are Chief Security Officers and Chief Information Security Officers.
The majority of survey respondents said that IT security, specifically identity-centric security, needs to do more than protect the business in today's environment. It needs to help build trusted digital relationships that are critical for competing in the application economy and growing the business, CA Technologies said in a press statement on 23 November 2016.
According to the results, 85 percent said that identity-centric security is critical to business. Eighty-three percent said that security is critical to protecting the brand and can be viewed as a competitive differentiator.
"For digital businesses to thrive in the application economy, they need to drive new business models and participate in new connected ecosystems of value," said Stephen Miles, Chief Technology Officer, APJ, CA Technologies. "A good identity-centric security strategy enables a business to accelerate that objective with the confidence that great customer experiences are delivered, while mitigating risks and protecting the business."
Advanced use of identity-centric security reaps business benefits and decrease in data breaches
The study also examined respondents' current security postures in three areas of identity-centric security: the end-user experience, identity and access management, and data breaches.
This information is then used to create a maturity model for identity-centric security, categorising the respondents as advanced, basic or limited.
Advanced users saw a 58 percent improvement in business growth and new revenue, compared to 44 percent for basic users.
When it comes to security, 35 percent of advanced users have seen a reduction in data breaches, which is almost three times more than basic users (12 percent).
In addition, most advanced users of identity-centric security in APJ that have seen a decline in breaches have been much more proactive in preventing them. This is done through increased investment (86 percent), focusing on mobile devices and apps (82 percent), implementing strong step-up authentication (73 percent), and focusing on high-risk areas like privileged identities and access (68 percent). k1